Calgary real estate prospects

[ExtraSlow]

Remarkable, esteemed, luxurious, unparalleled, renowned, sprawling, impressive magnificent, exquisite.

And some of those more than once! That realtor need to step away from the thesaurus.

[Buster]

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There must be a typo in this price

https://www.realtor.ca/real-estate/2...pringbank-hill

yikes. they're what...$800k over on that?

[pheoxs]

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yikes. they're what...$800k over on that?

Well it's 2 minutes to Aspen so that easily adds 800k

[bjstare]

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yikes. they're what...$800k over on that?

Yeah, somewhere in that neighborhood. That's a comical asking price for a cookie cutter house in suburbia with no backyard.

Compared to this for $300k less: https://www.realtor.ca/real-estate/2...pringbank-hill

[ercchry]

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like what? >8% return plus potential cap gains?

I’m saying an investment that falls under cap gains and that is passive (landlord is not) is better than something that falls under business activity

What will get you more than 8%? Well… anything. Put it in SPY

[Buster]

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I’m saying an investment that falls under cap gains and that is passive (landlord is not) is better than something that falls under business activity

What will get you more than 8%? Well… anything. Put it in SPY

Ya. Rental properties are a job. Or if you treat them like passive income by outsourcing all of the "work", then your yield goes way down.

And you're at risk of capital depreciation.

Fuck RE as an asset class.

[89coupe]

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There must be a typo in this price

https://www.realtor.ca/real-estate/2...pringbank-hill

I was going to post this one, haha, WTF

[ExtraSlow]

Manifesting

[Pacman]

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There must be a typo in this price

https://www.realtor.ca/real-estate/2...pringbank-hill

nice house. Shitty TV wall mount job.

[Buster]

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I was going to post this one, haha, WTF

whats the story behind listing something like this? I assume the realtor is annoyed at having their time wasted by a client demanding a super high asking price?

[gpomp]

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Buddy this is what paradise looks like ok

https://maps.app.goo.gl/TSfYJWy7t8Qcqp7M9

Wife and I were over in Discovery Ridge to try Wonder Donuts (place is legit btw). I really liked the feel of the community, nice place and while most of the homes are double garage in the front (which I personally can't stand) there's some nice L-shapes.

That's on the wrong side of 85th

[XylathaneGTR]

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It’s right on the main entry to the community, super busy street. That’s my guess.
Not sure I would want to buy into a community like North Glenmore Park for that price.
I’d sway my clients if they had a $2M plus budget for a better community.

I think I cracked the case - terrible location - too far away from all the car washes! Think of how long it would take you to get downtown or to BMW Gallery!

[you&me]

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whats the story behind listing something like this? I assume the realtor is annoyed at having their time wasted by a client demanding a super high asking price?

A friend is looking in the area and - I think - mentioned this house... If it's the same house, it was originally listed at $1.9X and then they jacked the price after a couple of days, supposedly because the market is HAWT... Maybe 'Coupe can confirm if that's the case with pricing on this one?

[bjstare]

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A friend is looking in the area and - I think - mentioned this house... If it's the same house, it was originally listed at $1.9X and then they jacked the price after a couple of days, supposedly because the market is HAWT... Maybe 'Coupe can confirm if that's the case with pricing on this one?

Yes. I still have an active search portal for the neighbourhood since we moved here last year. Original LP was 1.9x, listed for 30 days, price increase today.

[vengie]

Nothing says "we should increase the price!" More than sitting listed for 30 days at an already insane price.

[Tik-Tok]

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I’m saying an investment that falls under cap gains and that is passive (landlord is not) is better than something that falls under business activity

What will get you more than 8%? Well… anything. Put it in SPY

Unless it gets torn down and rebuilt into a fourplex as soon as the zoning changes. Until then it's just paying for itself and who gives a shit what the tenants do to it.

[ercchry]

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Unless it gets torn down and rebuilt into a fourplex as soon as the zoning changes. Until then it's just paying for itself and who gives a shit what the tenants do to it.

It’s not paying for itself. It’s using your capital in an inefficient tax way with an 8% return… there is a cost to that

Speculation for the purpose of redevelopment is also a completely different business and not something I would recommend to anyone who doesn’t do that as their actual profession

[Tik-Tok]

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It’s not paying for itself. It’s using your capital in an inefficient tax way with an 8% return… there is a cost to that

Speculation for the purpose of redevelopment is also a completely different business and not something I would recommend to anyone who doesn’t do that as their actual profession

Only an 8% return isn't great, but if they are predicting prices in our neighborhood to go up even higher after the rezoning, then it might be a win. It's definitely gambling, however if the Midtown LRT actually happens this place will be a prime target for infills like that. My guess is that between that one and the similar one down the street that also sold in the 700's, this is someone who is doing it as a profession.

[suntan]

If your investment home is in a corp and you have less than five employees, it is considered passive income and is taxed at regular corp rates if you want to take out dividends. It does not qualify as a small business.

[ercchry]

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If your investment home is in a corp and you have less than five employees, it is considered passive income and is taxed at regular corp rates if you want to take out dividends. It does not qualify as a small business.

Sale of asset… the speculation is the only additional upside.

There are also going to be a ban on corps owning SFD homes, lending for corps is also limited and usually comes with higher interest rates

Fun reading:
https://wvllp.ca/resources/cra-widen...uAiwXY_EQEc_4u